Sell after potential correctionBroke the top very correctively. Waiting for a correction for further downside potentially
Nzdcadshort
NZDCAD SHORT PRICE ACTION FORECAST The price action has reached a resistance level to form a possible double top. If price cannot break through the level, it will reverse towards the support level (dotted blue line), allowing to capture the downward movement a sell stop order could be set.
The order:
Type: sell-stop
S/L: 37 pips - R:R | 1:2.5 -
T/P: previous support level
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Possible sell incoming Looking at possible selling opportunities for this pair depending on how we approach and how we react at this top
NZDCAD SHORT1. Weekly timeframe is strongly Bearish
2. Weekly Bearish TL has been respected
3. Bullish pullback has respected the 61.8 fib level
4. current weekly Candle is gorming a doji
5. Daily counter TL on the line chart has been broken and retested
6. Awaiting a confirmation the looking to go short
NZD/CAD SELL SIGNAL Hey tradomaniacs,
welcome to a new free trading-setup.
NZD/CAD: Day-Swingtrade-Execution
Note:
After long NZD/CAD last week market has exactly reached my short-area.
This is the first attempt this week so I will keep my risk low.
Market-Sell-Order: 0,88040
Stop-Loss: 0,88445
Target 1: 0,87660
Target 2: 0,87365
Target 3: 0,87080
Stop-Loss: 40,5 pips
Risk: 0,5 % - 1%
Risk-Reward:2,21
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Peace and good trades
Irasor
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NZD/CAD and where to SELLHey tradomaniacs,
previous fakeout the the downside hasbeen a strong Stop-Loss-Fishing-Move and resulted in a strong upmove.
Currently NZD/CAD is testing a strong resistance but still shows a lot of buy-pressure there which makes it more likely to see a break until the next resistance which would complete the A-B-C Pattern close the the 50% - 61,8% Retracement.
Up there we would probably get a nice chance to sell as soon as we see bearish confluence.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
NZDCAD - The Breakout!We have finally broken out of the descending channel on NZDCAD, we need to see a pullback into structure and rejections to confirm the breakout before looking for long opportunities. I highly recommend keeping this one on your watchlist.
According to COT Data - 60% long
NZDCAD - BEARISH BIASNZD - BEARISH
1️⃣ New Zealand extended its level three lockdown restrictions in Auckland until at least midnight on Sunday, reporting 7 fresh cases of the coronavirus as community transmission persists.
2️⃣ The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6% in the second quarter of 2020, posting the largest drop in total volume sales since the series began in 1995.
CAD - BULLISH
1️⃣ CAD lifted by a rise in oil prices after tropical storms Marco and Laura hit the Gulf of Mexico and amid optimism about coronavirus treatments.
2️⃣ US Dollar Index (DXY) is staying on the back foot as the greenback struggles to grab investors' attention as a safe-haven.
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TECHNICAL
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- We shorting NZDCAD on pivot point level + SMA100 area + SBR level on H1 chart.
- NZDCAD in bearish zone.
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RISK TO THIS TRADE
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This trade will hit stop loss if oil prices going down and market sentiment turns to risk-off mode.
NZDCAD SHORT OPPORTUNITIES UPON 4H CLOSEShort opportunities on this H4 close (if we have this bearish wick) if not I will be waiting for a deeper retracement into the 50% fib. We have multiple confluences here as price is clearly in a downtrend (lower highs, lower lows), price is also respecting this descending TL, we are also near and below the 50EMA and has stalled around the 38.2 fib level with what looks to be a bearish wick for confirmed entry. ALso favour a weak NZD.
NZDCAD / SHORTPrice has broken support and is currently retesting, once price breaks this area we are looking to enter short
NZDCAD - Push UpAlthough we are currently in a down-trending market my custom indicator has signaled me a buy. I have illustrated where I expect price to reach before we see signs of any rejection, let's see how this one plays out.
NZDCAD SHORT/BEARISHHi Guys,
As we can see, the NZDCAD bounced off the top trend line on a weekly and daily chart, we expect a downtrend in a long term.
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Thank you.
NZDCAD approaching support, potential for a further rise!
NZDCAD approaching support at 0.87590 where it could potentially rise further to 0.88790.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
